The domestic business process management (BPM) industry has experienced exponential growth. With strong fundamentals, India continues to remain the premier sourcing destination in the world, National Association of Software and Services Companies (Nasscom) President R. Chandrashekhar said here on Wednesday.
Mr. Chandrashekhar was sharing the findings of Nasscom’s recently concluded BPM survey on the sidelines of the two-day Nasscom BPM strategy summit 2014.
At $23.20 billion of revenues in 2013-14, the BPM industry continues to evolve in India, the survey says. Propelled by positive guidelines, the BPM industry can potentially be a $50-billion industry, employing two million people by 2020, the survey adds. “Industry experts have helped us evolve a BPM landscape that helps us deal with the ever-changing global business trends,” he said. Over the last year, with global corporations requiring differentiated and focused solutions, Indian BPM players have transformed their approach by becoming transformational partners rather than executional partners, so services being offered are tailor-made for customer requirements which prove a value-proposition to business models, he said.
Keshav Murugesh, Chairman, Nasscom BPM Council, said, “A key agenda for us is to showcase skills and careers in the BPM industry and change perceptions about the industry.” Strong platform play and the emergence of new markets and verticals led to an exponential growth of the segment. The highlight of the year was the growing knowledge services segment followed by the marketing and data analytics and legal services domain. Major BPM firms also focussed on transforming business processes leading to newer business models and services.
The summit also announced the top 20 BPM exporters in India for 2014, the top three being Genpact, Tata Consultancy Services and Serco Global Services.
The summit concurrently released a report ‘Emerging delivery locations in India: the rising tide — by Cushman & Wakefield and Nasscom.